Zimmer Partners LP Makes New Investment in DT Midstream, Inc. (NYSE:DTM)

Zimmer Partners LP acquired a new position in DT Midstream, Inc. (NYSE:DTM) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 750,000 shares of the company’s stock, valued at approximately $74,572,000. DT Midstream accounts for approximately 1.3% of Zimmer Partners LP’s holdings, making the stock its 23rd biggest holding. Zimmer Partners LP owned about 0.77% of DT Midstream as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in DTM. Barclays PLC raised its stake in shares of DT Midstream by 3.7% in the third quarter. Barclays PLC now owns 283,363 shares of the company’s stock worth $22,289,000 after buying an additional 10,074 shares during the period. Ritholtz Wealth Management bought a new position in shares of DT Midstream in the fourth quarter worth about $201,000. Merit Financial Group LLC bought a new position in shares of DT Midstream in the fourth quarter worth about $458,000. HB Wealth Management LLC bought a new position in shares of DT Midstream in the fourth quarter worth about $299,000. Finally, City Holding Co. raised its stake in shares of DT Midstream by 5.1% in the fourth quarter. City Holding Co. now owns 18,465 shares of the company’s stock worth $1,836,000 after buying an additional 888 shares during the period. Institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Performance

NYSE:DTM opened at $103.56 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. DT Midstream, Inc. has a 1 year low of $65.43 and a 1 year high of $114.50. The stock’s 50 day simple moving average is $97.15 and its two-hundred day simple moving average is $99.66. The company has a market cap of $10.52 billion, a price-to-earnings ratio of 25.20 and a beta of 0.77.

DT Midstream (NYSE:DTM) last released its quarterly earnings data on Wednesday, April 30th. The company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.01). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The firm had revenue of $288.81 million during the quarter, compared to the consensus estimate of $285.48 million. During the same period in the previous year, the firm earned $0.99 EPS. As a group, equities analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Monday, June 16th. DT Midstream’s payout ratio is 89.37%.

Insiders Place Their Bets

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of DT Midstream stock in a transaction on Monday, March 10th. The shares were acquired at an average price of $86.92 per share, with a total value of $86,920.00. Following the purchase, the director now directly owns 38,653 shares in the company, valued at $3,359,718.76. The trade was a 2.66% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought a total of 1,235 shares of company stock valued at $109,867 in the last quarter. 0.34% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on DTM shares. Williams Trading set a $110.00 price objective on DT Midstream in a research note on Monday, March 24th. UBS Group raised their price objective on DT Midstream from $102.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. US Capital Advisors downgraded DT Midstream from a “moderate buy” rating to a “hold” rating in a research note on Monday, April 28th. Raymond James lifted their target price on DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, Stifel Nicolaus decreased their target price on DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, DT Midstream currently has an average rating of “Hold” and a consensus price target of $108.27.

DT Midstream Company Profile

DT Midstream, Inc, together with its subsidiaries, provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. The Pipeline segment owns and operates interstate and intrastate natural gas pipelines, storage systems, and natural gas gathering lateral pipelines.